TerraVest Industries (TSE:TVK) Shares Break Above 50-Day Moving Average – Here’s What Happened

TerraVest Industries Inc. (TSE:TVK) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$112.95 and traded as high as C$114.45. TerraVest Industries shares last traded at C$113.44, with a volume of 40,990 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TVK. Canadian Imperial Bank of Commerce dropped their price target on shares of TerraVest Industries from C$148.00 to C$134.00 in a research note on Thursday, October 29th. Scotiabank increased their price target on shares of TerraVest Industries from C$129.00 to C$130.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. BMO Capital Markets raised their price objective on shares of TerraVest Industries from C$160.00 to C$170.00 in a research report on Friday, August 14th. Finally, National Bank Financial lifted their price objective on TerraVest Industries from C$170.00 to C$180.00 in a report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$150.80.

TerraVest Industries Stock Up 0.6%

The firm has a market capitalization of C$2.43 billion, a PE ratio of 27.33 and a beta of 0.86. The firm’s 50-day moving average is C$112.95 and its 200 day moving average is C$126.80. The company has a debt-to-equity ratio of 151.79, a quick ratio of 0.91 and a current ratio of 1.54.

TerraVest Industries (TSE:TVK) last posted its earnings results on Thursday, August 13th. The company reported C$1.40 earnings per share for the quarter. TerraVest Industries had a net margin of 5.35% and a return on equity of 12.40%. The firm had revenue of C$921.79 million during the quarter. As a group, research analysts forecast that TerraVest Industries Inc. will post 4.45 earnings per share for the current fiscal year.

About TerraVest Industries

TerraVest Industries Inc is a manufacturer of home heating products, propane, anhydrous ammonia, natural gas liquids transport vehicles, storage vessels, energy processing equipment, and fiberglass storage tanks. The company’s operating segments are Fuel Containment, Processing Equipment, and Service. The Fuel Containment segment is engaged in the manufacturing of bulk LPG transport trailers, LPG delivery & service trucks, bulk LPG storage tanks, residential & commercial LPG tanks, dispensers, and other products.